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  • Financial Planning is a systematic approach whereby the financial planner helps the customer to maximize his existing financial resources by utilizing financial tools to achieve his financial goals.

Financial Planning is simple mathematics. There are three major components:

  1. Financial Resources (FR)

  2. Financial Tools (FT)

  3. Financial Goals (FG)

  4. Financial Planning : FR + FT = FG
  • In other words, Financial Planning is the process of meeting your life goals through proper management of your finances. Life goals can include buying a home, saving for your children’s education, or planning for retirement. It is a process that consists of specific steps that help you to take a big-picture look at where you are financially. Using these steps you can work out where you are now, what you may need in the future and what you must do to reach your goals.
  • After determining financial goals gather information and analyse data. Once that is done, develop financial strategies and plans to implement towards achieving the goals. Constant monitoring of the progress, evaluating of the results, and revision of plan if necessary must be continuously done until the financial goals are achieved. The final goal is to ultimately achieve financial independence.
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